Minor as a shareholder in company

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Aditi

Aditi (Querist)
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18 November 2015 Can a minor hold 90% shares of a pvt ltd company? What shall be its implication?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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24 November 2015 No.

A minor, being incapable of contracting, can't become a member of a company in his own name. His name may be entered in the register of members of the company through a guardian.

However, a minor, on attaining majority, may opt to become a member.